Uniswap acquires NFT marketplace aggregator Genie, should you get UNI?

Uniswap UNI/USD is a decentralized cryptocurrency exchange (DEX) that specializes in providing peer-to-peer (P2P) market trading. The UNI cryptocurrency is an Ethereum ETH/USD token that powers Uniswap.  Within Uniswap, there is no order book or central facilitators, and tokens get exchanged through liquidity pools defined by smart contracts.  The Genie NFT marketplace acquisition as a The post Uniswap acquires NFT marketplace aggregator Genie, should you get UNI? appeared first on Invezz.

Timeline of Uniswap

With the ongoing slowdown in the crypto markets, NFT enthusiasts in the industry have maintained a studied silence. However, Uniswap, sensing opportunity in adversity, has doubled down on the NFT space and acquired NFT marketplace aggregator Genie.

Uniswap DEX has acquired NFT aggregator platform Genie This marks Uniswap's second foray into NFTs, after Unisocks.  Crypto exchange Uniswap is all set to expand its dominance in the NFT world by acquiring Genie, one of the central NFT aggregator platforms.

Uniswap Labs, one of DeFi's most prominent decentralized exchanges, has acquired an NFT marketplace aggregator for an undisclosed amount, a bullish move in the current crypto market turmoil. Uniswap Labs said Tuesday that it has acquired NFT marketplace aggregator Genie.

Responding to last week's sell-off, the Uniswap (UNI) price pierced through the range support of $4.5 on June 11th. The breakdown fell to 24.8% and reverted immediately to retest the breached resistance.

The price of Uniswap (UNI) fell to its previous low of $3.57 on June 13. The bulls have consistently defended the previous low over the past month. The previous low of May 12 at $3.57 has held for the past month. The bears tried to undercut that level while the bulls bought the dips.

Imagine buying Uniswap's native crypto UNI in December 2020, just before it embarked on a strong rally up until May 2021. Such a chance has presented itself once again courtesy of the latest crypto market crash.

Despite the current challenging environment and the associated market uncertainties, crypto firms such as Binance, Kraken, and Polygon have joined Uniswap Labs in driving their recruitment strategies.

Uniswap Labs said that Cunningham was joining the team due to her belief in “the potential of decentralized exchange and in Uniswap Labs's commitment to fairer markets.” The post Former NYSE president joins Uniswap Labs as advisor appeared first on The Block.

Key takeaways: Uniswap labs have welcomed the former President of the New York Stock Exchange, Stacey Cunningham, as an advisor. Ms. Cunningham served as the NYSE's first female President between 2018 and 2022.

Uniswap [UNI] took a hit just like every other cryptocurrency. But its presence in the market as a decentralized exchange might have something more in store for the token of the protocol.